Waste Connections, Inc. (WCN) PT Raised to $76.00 at Royal Bank Of Canada
Waste Connections, Inc. (NYSE:WCN) had its price objective hoisted by Royal Bank Of Canada from $74.00 to $76.00 in a research report report published on Thursday morning. They currently have an outperform rating on the business services provider’s stock.
Several other brokerages have also commented on WCN. Barclays PLC restated a buy rating on shares of Waste Connections in a research note on Friday, April 28th. Zacks Investment Research lowered shares of Waste Connections from a buy rating to a hold rating in a research note on Tuesday, May 30th. Credit Suisse Group restated a buy rating and set a $75.00 price target on shares of Waste Connections in a research note on Friday, June 23rd. Oppenheimer Holdings, Inc. restated an outperform rating and set a $70.00 price target (up previously from $64.00) on shares of Waste Connections in a research note on Friday, June 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Waste Connections from $66.50 to $75.00 and gave the stock a buy rating in a report on Wednesday, June 21st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $68.51.
Waste Connections (NYSE WCN) opened at 65.06 on Thursday. The company’s 50 day moving average is $64.91 and its 200 day moving average is $59.92. Waste Connections has a 12-month low of $47.81 and a 12-month high of $67.14. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of 55.32 and a beta of 0.24.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.66 EPS. Waste Connections’s quarterly revenue was up 61.6% on a year-over-year basis. On average, equities analysts anticipate that Waste Connections will post $2.12 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, August 4th. Waste Connections’s dividend payout ratio (DPR) is presently 40.56%.
In other Waste Connections news, VP Patrick James Shea sold 6,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $96.95, for a total value of $581,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael W. Harlan sold 3,400 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $96.49, for a total transaction of $328,066.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,400 shares of company stock valued at $2,350,516. Insiders own 0.68% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Papp L Roy & Associates increased its stake in shares of Waste Connections by 50.0% in the second quarter. Papp L Roy & Associates now owns 13,414 shares of the business services provider’s stock worth $864,000 after buying an additional 4,471 shares during the period. World Asset Management Inc increased its stake in shares of Waste Connections by 41.7% in the second quarter. World Asset Management Inc now owns 15,490 shares of the business services provider’s stock worth $998,000 after buying an additional 4,562 shares during the period. Sasco Capital Inc. CT increased its stake in shares of Waste Connections by 17.8% in the second quarter. Sasco Capital Inc. CT now owns 15,738 shares of the business services provider’s stock worth $1,014,000 after buying an additional 2,376 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Waste Connections by 161.6% in the second quarter. Daiwa Securities Group Inc. now owns 143,025 shares of the business services provider’s stock worth $9,214,000 after buying an additional 88,350 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Waste Connections by 48.0% in the second quarter. CIBC Asset Management Inc now owns 1,080,949 shares of the business services provider’s stock worth $69,546,000 after buying an additional 350,559 shares during the period. 58.20% of the stock is owned by hedge funds and other institutional investors.
Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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